The Eurozone composite PMI index elaborated by Markit rose to 46,4 points in June, better than the expectations of economists, who expected an unchanged figure of 46, on May levels. However, the datum remains below the threshold of 50 points, which indicates a contraction phase of the cycle. Conversely, above 50 points the figure indicates an expansion phase of the cycle.
In detail, the PMI services index improved in Italy, rising to 43,1 points from 42,8 in May and above expectations of 42,5. PMI index also improving in France, while Germany is worsening. The PMI services index drops below 50 points to 49,9 from 51,8 and against estimates for 50,3 and the composite index drops to 48,1 points from 49,3.
